In its second quarter ended May, the company earned 37 cents a share and generated $1.07 billion in sales. Analysts surveyed by Thomson Reuters forecast 30 cents a share and $1.03 billion.
By midmorning, shares had jumped 7.8% to $72.79. Trading volume of 6 million shares was double its three-month daily average.
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Separately, TheStreet Ratings team rates ADOBE SYSTEMS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADOBE SYSTEMS INC (ADBE) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."
- You can view the full analysis from the report here: ADBE Ratings Report